All the Credit, Ep. 36
Insights on credit fundamental trends and vulnerabilities across the asset class, along with outlooks on defaults and loss expectations.
PGIM Fixed Income is an active global fixed income manager bringing scale, stability, and broad capabilities to the pursuit of consistently strong, risk-adjusted returns.
Insights on credit fundamental trends and vulnerabilities across the asset class, along with outlooks on defaults and loss expectations.
While the Federal Reserve’s March rate hike was delivered as expected, the decision was paired with several dovish signals and mixed messages regarding the banking sector.
As expected, the ECB stuck with its guidance and raised interest rates 50 basis points (bps) at its March meeting. However, recent market turmoil has clearly made the central bank cautious.
The abrupt failure of Silicon Valley Bank (SVB) and the renewed pressure on Credit Suisse are the latest in a series of global shocks affecting the capital markets.
Past performance is not a reliable indicator of future results. There is no guarantee that objectives will be met. All investments involve risk, including possible loss of capital.
Source of data (unless otherwise noted): PGIM Fixed Income.
Note: Client information as of December 31, 2022. Staffing as of December 31, 2022. Assets under management (AUM) as of December 31, 2022 and are based on company estimates and are subject to change. PGIM Fixed Income’s AUM includes the following businesses: (i) the PGIM Fixed income unit within PGIM, Inc, located in the USA; (ii) the public fixed income unit within PGIM Limited, located in London; (iii) PGIM Netherlands B.V. located in Amsterdam; (iv) locally managed assets of PGIM Japan Co., Ltd. (“PGIM Japan”), located in Tokyo; and (v) the public fixed income unit within PGIM (Singapore) Pte. Ltd., located in Singapore.